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The Dollar Business Bureau  NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...

PTI Italian superbike maker Ducati today announced opening of a dealership here -- its first in Gujarat and fifth in the country. With this new dealership, Ducati India is now operational in 5 major cities across India, including Delhi NCR, Mumbai, Bangalore, Pune and Ahmedabad. The 6,000-sqft showroom-cum-service centre on SG Highway area of city has been established by Motonova Superbikes Pvt Ltd, owned by Supernova Group. Ahmedabad is a key to company's growth plan, said Ravi Avalur, Managing Director, Ducati India. "As part of Ducati India's strategic expansion in the country, we are opening a dealership in Ahmedabad. With the growing demand for premium motorcycles in Gujarat, Ahmedabad is the key to our growth plan in India," Avalur said. He added that ...

The Dollar Business Bureau Maruti Suzuki India Ltd. said on Tuesday that it has posted a 23 percent rise in its net profit during the first quarter of 2016-17 fiscal. The country’s top-selling car manufacturer said the company’s profit during the April-June quarter stood at Rs.14.86 billion ($220.80 million), up from Rs.12.08 billion during the same period a year ago. Its net sales grew about 12 percent to 146.5 billion rupees. “The profit in the quarter was helped by a higher turnover, material cost reduction, higher non-operating income and lower depreciation,” Maruti Suzuki said in a statement. Maruti’s recent output is important as the Japanese car maker attempts to recover from an emissions testing scandal. Maruti Suzuki, controlled by Japanese company Suzuki Motor Corp through its ...

PTI Maruti Suzuki India Ltd (MSIL) today said its double digit growth target remains on track for the current fiscal despite production losses of 30,000 units in June owing to fire in one of its key vendor facilities at Manesar. "Whatever losses we had we will make up in the next few months as our production engineers are working on how to increase the production," MSIL Executive Director R S Kalsi said here today on the sidelines of the launch of new platinum rated showroom of 'One Auto' in Kolkata. The production loss is about 30,000 units for the company as the overall impact was almost for four weeks in the plant. Waiting period for Vitara Brezza and ...

The Dollar Business Bureau The exports of Tata Motors have increased 11% with 5,603 vehicles shipped in the month of June 2016 when compared to 5,046 vehicles sold in the same month last year. The cumulative exports were marginally higher by 2% at 13,816 units sold in the fiscal, over 13,510 vehicles sold in the previous fiscal, the company said in a statement. Tata Motors has registered 14% and 22% growth in the company’s Light Commercial Vehicle (LCV) and passenger car segments respectively in June 2016. The overall sales including exports of passenger and commercial vehicles have surged up 8% with 44,276 vehicles sold in July 2016, against 40,869 sales in the same month last year. The cumulative sales (including exports) were higher 6% ...

The Dollar Business Bureau After witnessing a strong growth of 11 percent in the month of April, sales in passenger vehicles in May slowed down to 6.26 percent, due to poor performance of the passenger car (cars, vans and utility vehicles) segment. Monthly sales of cars, which make for around 70 percent of the local passenger vehicle market, dropped 0.9 percent in the month of May. On the other hand, utility vehicle sub-segment sales witnessed a high double-digit growth. Banking on the new launches and expanding market of compact utility vehicles, the utility vehicle segment increased 36 percent last month. Out of the five months from January to May, sales in passenger cars have dropped in four, excluding the month of April, ...

The Dollar Business Bureau India’s largest automotive maker, Maruti Suzuki, revealed that it began exporting the much-anticipated Light Commercial Vehicle-LCV ‘Super Carry’ to Tanzanian and South African markets. Meanwhile, the LCV will be launched in India in the second quarter of the current fiscal. The first batch comprising of 100 Super Carry LCV’s has been shipped, revealed Maruti Suzuki India. The models being shipped to South Africa and Tanzania include the petrol variant of the LCV, which is run by G12B engine. Meanwhile, the company, in a bid to explore international markets, is also mulling plans to export the LCV to SAARC countries. In India, the LCV, powered by E08 engine, will be launched in selected parts of the country in the 2nd quarter of ...

The Dollar Business Bureau After failing to get the required approval from the regulatory body to take out the device designed to trick pollution tests, German car manufacturer Volkswagen (VW) on Monday said the company was delaying the recall of millions of vehicles all over the world. According to reports, the company had planned to recall the brand’s Passats model in early March. However, the vehicles are still in the checking process at the Federal Motor Transport Authority (KBA). The Authority is not yet fully satisfied with few measures and needs some more information. But the car maker was hoping that the approval for recalling the vehicles would come in a few weeks. The company has still not been able to obtain an ...